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How scanners can revolutionise the ‘accounts payable’ function

N

o matter how

Manual data entry takes a lot of time

Fujitsu Scanners are enabling those who work in accounts payable - in organisations from SMEs to large corporates - to work smarter, whether they are based at home or in the office storing them effectively. It can also result

large or small

and increases possibility of errors - and

in a lack of traceability and reporting,

an organisation

manually finding and rectifying errors

which can make compliance with data

is, they all need

wastes even more time for people who

regulations difficult, and bring other

an ‘accounts

work in accounts payable; lost time and

unwelcome problems to a business.

payable’ function

incorrect payments have a negative

to pay suppliers and keep their business moving - but, while many

effect on a business’s finances. A 2020 report by INVU found that

Meanwhile, approval processes can be cumbersome; passing invoices to key individuals for approval is a frequent

areas of business have embraced

72% of UK businesses still require

payments bottleneck, especially if the

digitisation, accounts payable is still

employees to print out invoices received

person needed is not there to sign an

often characterised by inefficient,

as email attachments, but physical

invoice off. In Ardent Partners’ The State

manual processes that add complexity

storage of documents can be expensive,

of ePayables report, from 2019, 33% of

and delay to the role, that can end up

and the rise in remote working over

respondents said that bottlenecks in

costing a company money. Indeed, 72%

the past 15 months has presented new

the invoice approval process were a

of UK accounting departments listed

problems for employees in the accounts

top cause of exceptions. If payments

‘Too much manual data entry’ as a top

payable department, especially those

are delayed, late payment penalties

accounts payable process challenge,

who work remotely, who can experience

may be incurred, or early payment

according to a 2021 survey by Ephesoft.

difficulties in retrieving documents and

discounts lost.

[18] SUMMER 2021

www.dealersupport.co.uk

Profile for Intelligent Media Solutions

Dealer Support Summer 2021  

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